EFE Securities •

5 months ago •

Market Commentary

MARKET COMMENT 07.12.2023

ZSE extends gains…

The market extended previous session’s gains as the primary All Share Index rose 0.91% to 193,303.47pts while, the Blue-Chip Index edged up 1.24% to 82,202.57pts. The Agriculture Index added 0.46% to 605.51pts while, the Mid Cap Index gained 0.26% to 851,766.93pts. Banking group CBZ Holdings led the winners of the day on a 14.48% jump to close at $2,400.0000, followed by hotelier Meikles Limited that firmed up 3.06% to $1,346.0000. Sugar processors Hippo Valley climbed 2.42% to $1,900.0000 while, Zimre Holdings shot up 0.97% to settle at $181.7391. Tea producer Tanganda capped the top five best performers of the day on a 0.84% uplift to end the day pegged at $958.0000. On the contrary, fintech group Ecocash Holdings lost 3.19% to settle at $116.2339 while, seed producer Seed Co Limited slipped 0.58% to $860.0000 despite recording a revenue jump of 101.11% to $59.71m. Telecoms giant trimmed 0.56% to settle at $719.0361 while, beverages giant Delta dropped 0.48% to end the day pegged at $3,492.1422. Banking group FBC completed the laggards of the day on a 0.18% slid to close at $955.0000. Six counters recorded gains against nine that faltered to leave the market with a negative breadth of three.

Activity aggregates enhanced in the session as volume traded ballooned 60.90% to 2.26m shares while, value traded grew 88.41% to $2.34bn. Proplastics and Delta dominated the volume and value aggregates as they claimed a shared 83.41% of the former and 92.25% of the latter. A total of 52,182 units exchanged hands in a session which saw Cass Saddle ETF, Datvest ETF and MIZ ETF trade flat at $7.5000, $9.0000 and $9.5000 apiece. OMTT ETF declined 0.19% to end the day pegged at $34.4313. The Tigere REIT went up 0.01% to $299.4366 as 6,157 units exchanged hands.